Team spirit

The cartel has taken two steps forward and one step back. Compliance with output cuts is narrowing the gap between supply and demand, but it is also encouraging U.S. producers to drill more wells. Sustained higher prices may require even more restraint to keep the market balanced.

This content is for Subscribers only

To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.

Existing Users Log In

A service truck drives past an oil well on the Fort Berthold Indian Reservation in North Dakota, November 1, 2014. The Fort Berthold Indian Reservation, home to the Mandan, Hidatsa, and Arikara Nation, produces nearly a third of North Dakota's oil. The election for a new tribal chairman, in which both candidates have positioned themselves as reformers, may change the oil industry's relationship with the reservation. Photo taken November 1, 2014. REUTERS/Andrew Cullen (UNITED STATES - Tags: POLITICS ELECTIONS ENERGY BUSINESS) - RTX1KAIK

Related Links

Breakingviews is not responsible for the content of external internet sites.